ReMake Electric expands in Europe

Icelandic ReMake Electric lately sealed agreements in Great Britain, Scandinavia and now makes plans to further expand in Europe.

ReMake Electric, established in 2009, provides solutions in the field of electricity management, energy efficiency, and carbon footprint reporting. ReMake Electric develops, produces and sells the energy monitoring solution eTactica, through which organizations are able to monitor cost, load and use of electricity on each circuit breaker to optimize their energy use and to increase their energy efficiency. After having been mostly operating in Iceland, the company has now started to grow in other parts of Europe, most recently closing deals in the Nordics.
“We have had some good reseller agreements in Scandinavia for our products together with a few companies throughout Denmark, Finland, Sweden and Norway,” said ReMake Electric CEO Hilmir Ingi Jónsson.

Also, the company recently entered the UK market through a reseller agreement with InTouch IS this spring to work together in offering the eTactica intelligent energy management system to the UK market. Through InTouch, ReMake Electric made an agreement with Tesco to use the monitoring system in several UK stores. Jónsson said that the goal is now to further expand the business in Europe. “The next step is to approach markets like Germany and France.”

Working in the cleantech industry

Cleantech has been a big part of the structure in Iceland. However, Iceland is not yet really at the forefront of the cleantech industry. The country is also struggling to get back on its feet after a fiscal crisis that began in 2008. Getting established in the cleantech industry – in a country where more than 80 percent of the primary energy is coming from renewable sources – has been a challenge. “Initially, we thought if we could sell energy saving solutions in Iceland, we could sell it anywhere,” stated Jónsson, who now has hopes for an Icelandic turnabout.

“Iceland has cleantech expertise, and because of its energy sources and its climate, the country has been focused on providing a green infrastructure. What is now happening through the engineering sector, we are actually sharing and educating the Nordic market about cleantech matters, especially for geothermal projects. The things that we have learned in Iceland in the past decades we can now share with the Nordic countries. Iceland is an island, we are island people, so we are very resourceful. We have been finding solutions to problems in order to make things more efficient and green.”